NIB strives to maintain an open, continuous and constructive dialogue with its owners and key counterparties. Our main stakeholders are our customers, our investors, political decision-makers and public administrations, and own staff. In addition to engaging in a number of activities with stakeholders during 2015, NIB undertook some greater actions that assisted in defining our material topics.
In March 2015, NIB concluded the strategy review that that was initiated in 2014. While NIB’s present business model will remain the foundation, lending will be increased to SMEs, mid-sized corporates and counterparts outside the Nordic-Baltic region. NIB also established an Arctic Financing Facility with a framework of up to EUR 500 million in loans for selected projects in the High North.
In 2015, NIB also carried out a Work Engagement Survey among its staff. The survey is conducted biannually, with the aim of assessing the wellbeing and functionality of the working community at NIB.
NIB also carried out a survey among its key external stakeholders. This survey is conducted once every three years and interviews a vast amount of customers, authorities and investors to gain more understanding of their needs and the expectations they have of the Bank. The aim is to receive feedback on NIB’s reputation, customer relationship strength and value added to these key target groups. The results are utilised to develop the Bank’s processes, and also to compare to previous years’ results.
In June 2015, NIB arranged a panel debate on environmental bonds at Denmark’s people meeting, Folkemødet, on Bornholm.
Also in June, NIB took part in the 6th Annual Forum for the EU Strategy for the Baltic Sea Region in Jurmala, Latvia.
In December, NIB hosted a panel discussion on green financing in the Nordic pavilion at the COP21 Climate Conference in Paris.
As an on-going general practice and as defined in our Public Information Policy, when a new loan is agreed, NIB publishes information about the borrower, the loan sum, maturity and project description. We also publish the degree to which our loan projects comply with the Bank’s mission, which is to improve the competitiveness and environment of the Nordic and Baltic countries. During 2015, NIB signed 45 new loan agreements.
NIB classifies all loan projects with potential negative social or environmental impacts as Category A projects. Such projects must undergo a full environmental impact assessment (EIA). The EIAs are made publicly available at www.nib.int for a period of 30 days. This allows our stakeholders to give their opinions before the Bank makes a decision on financing the project.
In 2015, the Bank published information about seven Category A projects, and received no responses. NIB eventually signed loan agreements with three of the Category A projects.
The Bank develops its sustainability reporting based on the Global Reporting Initiative (GRI). NIB aims to report on the most essential economic, environmental and social impacts of its operations. Our reporting also includes indicators from the GRI’s Financial Sector Supplement.
Stakeholders in 2015